Category: General
Country: India
Region: South Asia
By Apparel Resources News-Desk
01st November 2023
1 min read
Textile conglomerate Arvind Ltd’s second quarter results have been negative as its second quarter earnings for the financial year 2023-24 had a profit of Rs. 80.01 crore, down 36 per cent as against Rs. 125.02 crore during Q2, FY ’23.
The company posted revenue from operations at Rs. 1,921.73 crore, down 11.4 per cent in comparison to Rs. 2,169.81 crore during the second quarter of FY ’23.
The company said that both its textiles and AMD segments delivered improved margins at 11 per cent and 15.7 per cent respectively and all businesses delivered healthy volumes during the quarter.
While the total income recorded by Arvind Ltd., during the quarter was at Rs. 1,933.46 crore, the company incurred a total expenditure of Rs. 1,821.72 crore during Q2.
The company said that festival buying and macro indicators promise a likely improvement in domestic markets over the coming months. Revenue and margins are expected to show slight improvement on a sequential basis.
It also said that compared to Q2 FY ’23, revenues were lower primarily on account of price deflation in tandem with lower input costs.
Courtesy: Apparelresources.com
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